Business Big Tech Layoffs Megathread - Techbros... we got too cocky...

  • Want to keep track of this thread?
    Accounts can bookmark posts, watch threads for updates, and jump back to where you stopped reading.
    Create account
Since my previous thread kinda-sorta turned into a soft megathread, and the tech layoffs will continue until morale improves, I think it's better to group them all together.

For those who want a QRD:


Just this week we've had these going on:

1706112535506.png

1706112610401.png

1706112702576.png

But it's not just Big Tech, the vidya industry is also cleaning house bigly:

1706112854585.png

All in all, rough seas ahead for the techbros.
 
Click to expand...
FedPostalService said:
Also, what racism was he suffering? He’s so white he looks like a lightbulb would give him skin cancer.
Click to expand...
Unironically, this is pajeet-infested Microsoft we're talking about here. They probably are openly anti-white. Not that this shithead didn't deserve being fired for rocking the boat like that. The correct way to deal with actual workplace racism is to quietly document it as you go, find another job, then leak it once you've secured new income. HR is never your friend and they are the last people you should ever talk to concerning actual workplace complaints.
 
I joined the meeting, enthusiastic to share some of my learnings and excited for feedback on ways we could improve the business
Click to expand...

Regardless of pajeet shenanigans this line alone tells me he was the problem.

review a back-end system I’m familiar with, as most the people who worked on it left the team
Click to expand...
Sounds like the whole team was getting shut down and genius here is the only one who didn't see it coming.
 
TerminalTryHard said:
Sounds like the whole team was getting shut down and genius here is the only one who didn't see it coming.
Click to expand...
I remember being in a team that was getting shut down and it was amazing the amount of copium people huffed to pretend it wasn’t happening despite all development getting shut for us and even sign ups being for new customers ending.
 
Last edited:
TerminalTryHard said:
Sounds like the whole team was getting shut down and genius here is the only one who didn't see it coming.
Click to expand...
Yup, seen it happen to a few friends of mine working at other companies. Working hard doesn't matter if your work isn't getting the company what it wants. Important thing for lurkers to realize, the idea of being measured on your own 'merits' is naive, you will always be measured against others, both inside and outside your company. If you put in 60 hour workweeks to achieve half the business results of another team, because that other team has the more popular (internally or externally, never discount office politics) product under their wing, then you're still on the chopping block.

To bring a recent real world example, look at Ubisoft with AC Shadows. I'm sure members of the team over the last three months crunched like crazy to get it polished up in an attempt to save it. Still struggling to meet 'acceptable' launch week numbers for a Ubisoft title, much less the success Ubisoft desperately needs it to be. That crunch isn't gonna be worth shit if the sales numbers don't justify it.

Putting in more effort doesn't matter if it doesn't yield results.
 
TerminalTryHard said:
Regardless of pajeet shenanigans this line alone tells me he was the problem.


Sounds like the whole team was getting shut down and genius here is the only one who didn't see it coming.
Click to expand...
1742831202515.png


He worked in some team called "Worldwide Learning" which looks a web site with classes on Azure, but there must be a dozen sites like that, the job market is terrible so "learn to code" is no longer hot, people use AI... there are lots of reasons why the rest of the team saw it coming and moved.

Also the new trick is to complain about discrimination, go on FMLA, or try to be a "protected class" when you know you're going to get hit with a bad performance review. It doesn't work because the company has been documenting bad performance long before you decided that you needed to take six months off work due to sadbrains, or because Henry Louis Gates told you that you were 1/64 black and therefore nobody wanted to eat lunch with you because you are a nigger.
 
after owning grumss & elon moved to step 2
Click to expand...
1743201018075.png
1743201355236.png

1743201138449.png
1743201164697.png
1743201205885.png
1743201292095.png
Ubisoft sells off. All Assassin's Creed was doing was setting the sale price of the IP to the new subsidiary co-owned by Tencent.

The deal was rumored to be pending before launch. This is how it works:

1) Create new subsidiary co-owned by both Ubi and Tencent.

2) Assign it your best IPs.

3) Watch the sales and set the final valuation after AC ships.

4) Profit by owning even more of the new entity, valued higher because it does not carry Ubi's 2B in debt.

As I've said before, the owners make bank and avoid the anchor that is Ubisoft. Devs and mom and pop shareholders get nothing.
Click to expand...
welcome to step 4 bitchestldr: french see the writting on the wall.
Click to expand...

1743201453911.png 1743201697974.png 1743201652001.png 1743201860312.png 1743201898061.png 1743201977826.png 1743202063218.png 1743202148913.png
 
Last edited:
Imagine not immediately pulling your shares when you were told the next game you'll be making was "samurai, but nigger".
 
yep speed running to ubbisoft close
TLDR: CDProject red gambit - force country laws to save your ass
Ubisoft is diying

We are demanding that a French court compel Ubisoft to convene an Extraordinary General Meeting (EGM), giving all shareholders the right to vote on two critical resolutions:

>Renegotiate the Tencent Deal – This transaction must be restructured into a direct asset sale to Tencent for no less than €4 billion, the valuation already accepted by both Tencent and Ubisoft’s board. At the moment, shareholders have no clarity how the deal that was announced last week will eventually benefit shareholders of Ubisoft.

>Distribute an Extraordinary Dividend – Following the sale, Ubisoft shall return €23 per share in cash to shareholders (totaling €3 billion), while preserving €1 billion to cover remaining corporate net debt.

>Tencent be excluded from voting, due to its direct interest in the outcome of the

>Guillemot Brothers Holding’s voting rights be limited to their non-Tencent-linked shares.
Click to expand...

1743707483821.png
AJ Investments and Shareholder Coalition wants clarity on the transaction with Tencent, vote on EGM

Bratislava / Paris – April 2, 2025 – In direct response to Ubisoft’s decision to transfer the IP and related rights of three major gaming franchises (Assassin Creed, Far Cry and Rainbow Siege) into a newly created subsidiary—before raising €1.16 billion from Tencent in exchange for a 25% ownership stake (implying a pre-money valuation of €4 billion)—AJ Investments, alongside a growing coalition of shareholders, is initiating legal proceedings in France.

We are demanding that a French court compel Ubisoft to convene an Extraordinary General Meeting (EGM), giving all shareholders the right to vote on two critical resolutions:

Renegotiate the Tencent Deal – This transaction must be restructured into a direct asset sale to Tencent for no less than €4 billion, the valuation already accepted by both Tencent and Ubisoft’s board. At the moment, shareholders have no clarity how the deal that was announced last week will eventually benefit shareholders of Ubisoft.
Distribute an Extraordinary Dividend – Following the sale, Ubisoft shall return €23 per share in cash to shareholders (totaling €3 billion), while preserving €1 billion to cover remaining corporate net debt.
Additionally, we will seek a ruling that:

Tencent be excluded from voting, due to its direct interest in the outcome of the
transaction.
Guillemot Brothers Holding’s voting rights be limited to their non-Tencent-linked shares.
The market’s reaction to this deal is clear that shareholders are not sure whether they will get a significant benefit from this transaction. Ubisoft’s share price fell by more than 20% on unusually high volume. This signals a clear verdict from investors — the proposed deal is deeply flawed, structured to bypass mandatory public offer rules, and designed to entrench control by the Guillemot family, who now hold less than 10% of the company’s economic interest.

We believe this is a critical moment for shareholders. Without immediate intervention, the company may pursue further asset sales or dilution without delivering value to shareholders. In contrast, a simple vote at an EGM could deliver €23 per share in cash ( €3 billion valuation, source: Euronext outstanding shares for calculation)—more than double the current share price—and restore shareholder trust in Ubisoft’s future.

We suggest that management will explain the benefits of the deal to the shareholders in detail (not 2 A4 pages from where many details are not clear) as the owners of the business and we will have a vote on it. Sell the core IPs to the Tencent as a whole or sell them the 25% stake in a subsidiary that was already announced. Shareholders will choose what they prefer.

We call on all minority shareholders to join us now in this legal effort to protect value and demand accountability. The time to act is today—before the damage becomes irreversible.
Click to expand...
A minority shareholder and a growing coalition of shareholders have issued an open letter to Ubisoft to initiate legal proceedings around the recently announced Ubisoft and Tencent subsidiary deal.

In an open letter to Ubisoft, which was sent to Insider Gaming, the letter demands that Ubisoft hold an Extraordinary General Meeting (EGM) to give shareholders the right to vote on the recent subsidiary deal. For those not in the know, an EGM is a special kind of meeting that’s held outside of the general annual general meeting (AGM) to discuss significant issues that cannot wait.

The letter, which was sent by the minority shareholder AJ Investments demands that shareholders can vote on two separate resolutions when it comes to the Tencent deal.
Click to expand...
 
Last edited:
Terrifik said:
TLDR: CDProject red gambit - force country laws to save your ass
Click to expand...
As I said in the thread about this in the Games section of the forum, I knew the investors were going to try something like this to avoid being left with the bag.
 
Snekposter said:
As I said in the thread about this in the Games section of the forum, I knew the investors were going to try something like this to avoid being left with the bag.
Click to expand...
And to be honest, they'll probably get an injunction of some sort. I don't know enough about the french to know if they'll go all the way to force the specific votes as requested, but this is pretty much textbook "Company not acting in the interests of their shareholders".

The funniest part though is that if the Terms really do become "The new company pays 4 billion dollars to acquire the IP", the ubi bro's don't have four billion dollars. But Tencent does, and I'm pretty sure they'd gladly pay 4 billion dollars, in return for control of the IP holding company rather than the minority stake they're currently under. Ubisoft may have really just played itself here. Even if they walk it back and say "ok no nevermind", they both just tried to royally fuck the investors, and did so in a clearly desperate move to salvage their own wealth in a dying org. Good luck getting those stock prices up anytime this decade after that kind of stunt. They'd need back to back to back GTA6 level successes on all their following releases, with none of the drama they usually get into, just to get back into peoples good books.

Investors will gamble on a high risk high reward situation, so sketchy ass leadership printing gold can get away with it.
 
You must log in or register to reply here.
Back
Top Bottom